Yes. It can be fixed. The cost to have a shop do it is far more than the value of the board. But, it is an excellant do it yourself (DIY) learn something project. It'd be ideal if you had supply leftovers. If you're not careful, you could spend quite a lot for supplies. Check with your buddies for leftovers or buy from low-cost internet-based fiberglass sales businesses (tell me if you need some links). If you have never mixed resin and laid glass, this is an excellant opportunity! Be sure to read a couple of books or internet information before starting. It doesn't matter if you read about making canoes, sail boats, surf boards, or motorcycle parts. It'll be fun. Fiberglass is easy to work with. Be sure to watch the section of the movie, "The Endless Summer," that shows a guy glassing a board. That'll help a lot, too. You may not get a great result, but this is an opportuntiy where "good enough" is OK.
Cut off all the really bad parts. Rough sand the fiberglass that you retain. Make sure the foam is dry. If damp, set board out in sun on saw horses for a couple of days. Whether your work area is on grass or hard surface, hose the area down with water to reduce the amount of dust that might be kicked up when applying the resin to the glass and allowing it to cure. Mix the resin according to instructions and apply while wearing rubber kitchen gloves or surgical gloves. Make sure you have plenty of ventilation. You'll apply glass on one side, let it cure, and then flip the board over to apply glass to the other side. Be sure to smooth out any bubbles. IMPORTANT: make sure the glass is wetted thoroughly. You can't have any dry spots. You'll probably apply a minimum of two layers of glass and a maximum of three. I'd probably use a coarse weave (heavy glass cloth) on the first layer and a fine weave on the second. That will probably be enough. If you want to make things absolutely bullet-proof, then apply a third fine weave layer. But, this will increase the cost and weight. It may not be worth the money.
Anyway, you can have some fun with this.